15 Things to Consider BEFORE You Decide to Sell Your Small Business

  • Is it time to sell your small business?

  • Once on the market, it is common to take 6-11 months to sell, according to BizBuySell\'s Insight Report. https://www.inc.com/bob-house/how-long-it-actually-takes-to-sell-a-small-business.html?

  • Choose your timing and sell your business when you can get the best price, you have the time to sell and the economy is on an upswing.

  • Consult a tax attorney for the ideal options on when and how to sell your business.

  • Invest in valuing your company How to value your business: https://www.inc.com/john-warrillow/how-to-value-your-business.html

  • Use a third-party to engage buyers to maintain your confidentiality such as a business broker or an M&A advisor.

  • Present your financials to show your financial history and growth potential.

  • Focus on the deal, not the price. Consider tax implications, intangibles, and non-financial compensation.

  • Use a NDA Non-Disclosure Agreements to help protect your confidentiality.

  • Be prepared to explain WHY you\'re selling your business. Most buyers will ask.

  • Research your prospective buyer so you know who you\'re doing business with.

  • Determine your buyer\'s motives and priorities and why they want to buy your business.

  • Remember a family sale is also a business transaction.

  • Be specific about what you are selling - and what you AREN\'T selling.

  • Have a management team in place so you are selling a working business, not one that is dependent on your presence.

  • Write an exit strategy so you have a roadmap to follow for before, during and after the sale of your business, and nothing gets overlooked or forgotten during negotiations.

  • The Sales Assassin: Master Your Black Belt in Sales - My international best-selling sales book https://www.amazon.com/dp/B016X3PBH4/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

  • Everyone in your company is a salesperson: especially YOU! Don\'t just be a salesman: Be A SALES ASSASSIN

This checklist was created by anthonycaliendo

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